REG - Eden Research plc - Appointment of Distributor in Austria

Eden ResearchAnnouncement

16/12/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241216:nRSP1284Qa&default-theme=true

RNS Number : 1284Q  Eden Research plc  16 December 2024

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part
of UK law by virtue of the European Union (Withdrawal) Act 2018. The
information is disclosed in accordance with the Company's obligations under
Article 17 of the UK MAR. Upon the publication of this announcement, this
inside information is now considered to be in the public domain.

 

16 December 2024

 

 

Eden Research

("Eden" or "the Company")

 

 

Appointment of distributor in Austria

 

 

Eden Research plc (AIM: EDEN), a leader in sustainable biopesticide and
biocontrol products, is pleased to announce it has signed an agreement with
Sumi Agro Europe for the distribution of its flagship fungicide, Mevalone®,
in Austria.

 

Sumi Agro Europe's appointment as Eden's exclusive distributor expands the
companies' partnership across the Central European region, with Sumi Agro
Europe already acting as the exclusive distributor for Mevalone in a number of
countries, including Poland and Germany. Application for Mevalone's use has
been submitted with the local regulators, and a decision is expected in 2025.
Authorisation will initially apply to grapes and apples.

 

Renowned for its dry and delicate Grüner Veltliner grape variety, Austria is
amongst Central Europe's largest wine markets, with over 45,000 hectares of
vineyards across the country. Austria is a leader in not only conventional
production but also organic and biodynamic viticulture. Over 15% of vineyards
are certified organic, reflecting the country's commitment to sustainability.
Additionally, strict wine regulations ensure high-quality production, with
classifications like DAC (Districtus Austriae Controllatus) defining regional
typicity.  As a biopesticide derived on plant-based chemistry, Mevalone is
exempt from such residue limits, providing vineyard managers and grape growers
with greater flexibility.

 

As the third largest producer of apples across Central Europe, behind Poland
and Germany, apples also make up a sizable portion of Austria's overall
agricultural output, with apple orchards spanning approximately 15,000
hectares. Mevalone has been shown to extend the life of apples in the supply
chain, minimising food waste between farm to consumer.

 

Sean Smith, Chief Executive Officer of Eden Research plc, commented:

 

"As we prepare for a full launch of our product across Austria, we are
delighted to expand our partnership with Sumi Agro who have been a trusted and
reliable partner across the Central European region, backed by a strong
network of customers. As with other neighbouring territories, Mevalone's
upcoming introduction to the Austrian market comes at a time when regulators
are taking increasing action against conventional products, leaving local
farmers with few alternatives. We believe Mevalone not only provides a direct
alternative to those farmers needing to address these market challenges but it
is also aligned with the regulator's objectives to foster a more sustainable
agricultural future."

 

Nicola De Tomasso, Business Development Manager in Sumi Agro Europe,
commented:

 

"Eden's mission to bring sustainable agriculture to the industry through
plant-derived chemistry has resonated incredibly well with our customers
across Germany and Poland. Extending our partnership with the company into
Austria has been an obvious decision considering Mevalone's recent success in
the region, which we expect to continue growing from strength to strength. We
look forward to cooperating closely with Eden towards achieving full
authorisation for Mevalone and, upon its receipt, working swiftly to
distribute the product across our network of Austrian vineyards and orchards."

 

 

- ENDS -

 

 

For further information contact:

 

 Eden Research plc                                                 www.edenresearch.com (http://www.edenresearch.com/)
 Sean Smith                                                        01285 359 555

Alex Abrey

 Cavendish Capital Markets Limited (Nominated advisor and broker)
 Giles Balleny / George Lawson (Corporate Finance)                 020 7397 8900

 Charlie Combe (Broking)

Michael Johnson (Sales)

 Hawthorn Advisors (Financial PR)
 Victoria Ainsworth                                                eden@hawthornadvisors.com (mailto:eden@hawthornadvisors.com)

 

Notes to Editors:

 

Eden Research is the only UK-listed company focused on biopesticides for
sustainable agriculture. It develops and supplies innovative biopesticide
products and natural microencapsulation technologies to the global crop
protection, animal health and consumer products industries.

 

Eden's products are formulated with terpene active ingredients, based on
natural plant defence metabolites. To date, they have been primarily used on
high-value fruits and vegetables, improving crop yields and marketability,
with equal or better performance when compared with conventional pesticides.
Eden has three products currently on the market:

 

Based on plant-derived active ingredients, Mevalone® is a foliar
biofungicide which initially targets a key disease affecting grapes and other
high-value fruit and vegetable crops.  It is a useful tool in crop defence
programmes and is aligned with the requirements of integrated pest management
programmes. It is approved for sale in a number of key countries whilst Eden
and its partners pursue regulatory clearance in new territories thereby
growing Eden's addressable market globally.

 

Cedroz™( )is a bionematicide that targets free living nematodes which are
parasitic worms that affect a wide range of high-value fruit and vegetable
crops globally.  Cedroz is registered for sale on two continents and Eden's
commercial collaborator, Eastman Chemical, is pursuing registration and
commercialisation of this important new product in numerous countries
globally.

 

Eden's seed treatment product, EcovelexÔ was developed to safely tackle
crop destruction caused by birds - a major cause of losses in maize and other
crops. Ecovelex works by creating an unpleasant taste or odour that repels
birds, leaving the seeds safely intact and the birds unaffected and free to
find alternative food sources. The product is based on Eden's plant-derived
chemistry, registered in the EU, U.S. and elsewhere, and formulated using
Eden's Sustaine® microencapsulation system.

 

Eden's Sustaine(®)( )encapsulation technology is used to harness the
biocidal efficacy of naturally occurring chemicals produced by plants
(terpenes) and can also be used with both natural and synthetic compounds to
enhance their performance and ease-of-use. Sustaine microcapsules are
naturally-derived, plastic-free, biodegradable micro-spheres derived from
yeast. It is one of the only viable, proven and immediately registerable
solutions to the microplastics problem in formulations requiring
encapsulation.

 

Eden was admitted to trading on AIM on 11 May 2012 and trades under the
symbol EDEN. It was awarded the London Stock Exchange Green Economy
Mark in January 2021, which recognises London-listed companies that derive
over 50% of their total annual revenue from products and services that
contribute to the global green economy. Eden derives 100% of its total annual
revenues from sustainable products and services.

 

For more information about Eden, please visit:  www.edenresearch.com
(http://www.edenresearch.com/) .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTFLFISFELELIS